Hello ! I am 24 years old currently active duty military. Looking to invest don’t know where to start. I don’t have much saved up right now but I will have a lil more once get out in a year. Any advice helps (:
I would start by saving up. Read Scott Trench's book Set for Life. Save money, then buy a house/multifamily property to live in with roommates.
It's a lot easier to invest if you are starting from a strong financial position. It's possible to invest with low and no money down, but it's easy to get yourself in trouble if you start acquiring property before you have your finances in order.
Great ! Thank you ! Unfortunately having roommates isn’t much of an option for me since I have 2 small kiddos (: but I definitely understand what you mean. About to order the book now. What about taking out a business loan ? Just looking at different angles (:
Hi @Maya Hill -- the next year is a GREAT time to start building your knowledge. I agree 100% with the suggestion to sock away money. But in addition, getting started doesn't get any less confusing even if you have money saved up so do what you can to continue to learn. If you have the ability to get out to any local real estate meetups try to do that too even if this isn't ultimately where you plan to invest. You are already here on BP so keep reading, listen to the podcasts, soak it all in!